[debtfreer]

Some students experience circumstances that can place them into a bind, only to run into the presumed non-dischargeable nature of student loans. Third year students that are unable to qualify for additional loans to meet expected family contribution and then withdraw due to lack of funds, medical students that are unable to achieve proficiency but are sacked with hundreds of thousands of dollars in debt. The student loan corporations know this is an easy avenue to maintain a growing list of young people in indentured servitude.

Granted, the government has tightened the rules around private student loans and encouraged students to pursue federal-only loans (which offer a ton of benefits compared to private loans), but if you look at the loan practices in 2000-2008, private lenders were effectively fly-by-night and doing everything they could (including questionable advertising) to encourage students to apply for private loans.